Red Solutions Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04635518 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

RED SOLUTIONS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R H Sheriff

C H Sheriff

C M Wood

SECRETARY:

C H Sheriff

REGISTERED OFFICE:

Sundial House

98 High Street

Horsell Woking

Surrey

GU21 4SU

REGISTERED NUMBER:

04635518 (England and Wales)

ACCOUNTANTS:

Hamlyns LLP

Chartered Accountants

Sundial House

High Street

Horsell

Woking

Surrey

GU21 4SU

FIXED ASSETS

Tangible assets

4

19,109

23,583

CURRENT ASSETS

Stocks

12,553

-

Debtors

196,083

170,658

Cash at bank and in hand

147,794

114,122

356,430

284,780

CREDITORS

Amounts falling due within one year

298,737

248,755

NET CURRENT ASSETS

57,693

36,025

TOTAL ASSETS LESS CURRENT LIABILITIES

76,802

59,608

CREDITORS

Amounts falling due after more than one year

12,717

16,988

NET ASSETS

64,085

42,620

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

63,985

42,520

SHAREHOLDERS' FUNDS

64,085

42,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 June 2017 and were signed on its behalf by:

R H Sheriff - Director

1.	STATUTORY INFORMATION

Red Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with

FRS 102 Section 1A small entities. The date of transition is 1 April 2015.

In the transition from old UK GAAP, the Company has made no measurement and recognition adjustments.

The presentation currency of these financial statements is sterling.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised under tangible fixed assets at their

fair value. The capital element of the future payments is treated as a liability and the interest is charged to the

profit and loss on a straight-line basis.

Rentals applicable to operating leases where substantially all of the benefits of risks of ownership remain with

the lessor are charged against profits on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

52,117

Additions

2,940

At 31 March 2017

55,057

DEPRECIATION

At 1 April 2016

28,534

Charge for year

7,414

At 31 March 2017

35,948

NET BOOK VALUE

At 31 March 2017

19,109

At 31 March 2016

23,583

The net book value of fixed assets includes £15,843 (2016: £21,889) in respect of assets held under finance

leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £6,046 for the

year.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2016

and 31 March 2017

24,185

DEPRECIATION

At 1 April 2016

2,296

Charge for year

6,046

At 31 March 2017

8,342

NET BOOK VALUE

At 31 March 2017

15,843

At 31 March 2016

21,889

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

R H Sheriff

Balance outstanding at start of year

(7,405

)

(9,895

)

Amounts advanced

55,025

71,328

Amounts repaid

(51,823

)

(68,838

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(4,203

)

(7,405

)

C H Sheriff

Balance outstanding at start of year

(31,215

)

(5,000

)

Amounts advanced

52,185

36,750

Amounts repaid

(49,000

)

(62,965

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(28,030

)

(31,215

)

6.	RELATED PARTY DISCLOSURES

During the year, total dividends of £100,000 (2016 - £128,500) were paid to the directors .